Global Peripheral Vascular Device Market size and share is currently valued at USD 10.67 billion in 2024 and is anticipated to generate an estimated revenue of USD 18.51 billion by 2034, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 5.7% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2025 – 2034
The global Peripheral Vascular Device (PVD) Market is experiencing strong momentum, driven by the rising prevalence of peripheral artery disease (PAD), technological advancements in minimally invasive procedures, and an aging population prone to vascular complications. These devices, which include stents, catheters, balloons, and embolic protection systems, are pivotal in diagnosing and treating vascular conditions outside the heart and brain, especially in the legs and arms.
This robust growth is being fueled by an uptick in lifestyle-related conditions such as diabetes, obesity, and hypertension, which are known risk factors for vascular diseases.
Market Overview
Peripheral vascular devices are used to treat and manage disorders of the peripheral blood vessels, particularly in patients with peripheral artery disease (PAD), deep vein thrombosis (DVT), and chronic venous insufficiency (CVI). These devices improve blood circulation in affected areas, minimize complications, and often avoid the need for more invasive surgical interventions.
The peripheral vascular device market can be broadly segmented into:
Angioplasty balloons (standard, drug-coated, and scoring balloons)
Stents (self-expanding, balloon-expandable, drug-eluting)
Atherectomy devices
Embolic protection devices
Inferior vena cava (IVC) filters
Catheters and guidewires
Hemodynamic flow alteration devices
The shift toward minimally invasive vascular interventions, particularly in outpatient and ambulatory settings, is revolutionizing patient care and reshaping the dynamics of this fast-evolving sector.
Key Market Growth Drivers
- Growing Incidence of Peripheral Artery Disease (PAD)
Peripheral artery disease affects over 200 million people worldwide, and its incidence is on the rise due to the growing geriatric population and increase in metabolic disorders. PAD leads to narrowing of arteries in the limbs, which, if left untreated, can result in limb amputation or serious cardiovascular complications. This urgent need for early diagnosis and treatment is driving demand for peripheral vascular devices.
- Advancements in Minimally Invasive Procedures
The evolution of image-guided interventions, drug-coated balloons, and biodegradable stents has revolutionized how peripheral vascular diseases are treated. These technologies reduce patient recovery time, improve clinical outcomes, and are increasingly favored over traditional open surgeries. The integration of robot-assisted vascular interventions and intravascular imaging systems is expected to further boost the market.
- Aging Population and Rising Lifestyle Disorders
Aging is a major risk factor for vascular diseases. With global life expectancy rising and the number of people over 65 projected to double by 2050, the demand for vascular interventions is expected to increase sharply. Furthermore, lifestyle-related disorders such as obesity, smoking, and type 2 diabetes significantly contribute to vascular complications, necessitating long-term management with medical devices.
- Favorable Reimbursement and Regulatory Support
Governments and private insurers in developed economies are expanding reimbursement coverage for vascular procedures, including PAD treatments, endovascular therapies, and catheter-based interventions. Regulatory bodies such as the FDA and EMA are also speeding up approvals for innovative devices under expedited review programs, fostering faster product development cycles.
(LSI Keywords used so far: vascular stents market, minimally invasive vascular surgery, interventional radiology devices)
Market Challenges
- High Cost of Devices and Procedures
While minimally invasive procedures offer clinical benefits, they are often expensive due to the high cost of devices and specialized equipment. Hospitals and outpatient centers in developing countries may face affordability challenges, thereby limiting market penetration.
- Limited Access in Emerging Markets
Despite rising healthcare investments, access to advanced vascular treatment is still limited in low- and middle-income countries. A shortage of trained vascular specialists, lack of infrastructure, and minimal patient awareness continue to hamper growth in certain regions.
- Stringent Regulatory Hurdles
Peripheral vascular devices are subject to rigorous safety and efficacy evaluations. The lengthy and complex approval process for new devices can delay commercialization. Additionally, regulatory compliance adds to the overall cost of research and development (R&D), acting as a barrier for smaller players.
Regional Analysis
North America
North America leads the peripheral vascular device market, accounting for nearly 40% of global revenue in 2024. The U.S. remains the dominant contributor, owing to high healthcare spending, a well-established reimbursement framework, and a large elderly population. The prevalence of PAD, affecting over 8.5 million Americans, continues to drive market growth.
Europe
Europe holds the second-largest share of the market, driven by countries such as Germany, the UK, and France. Favorable government policies, strong R&D focus, and the presence of major market players fuel growth. However, pricing pressures and regulatory changes under the EU Medical Device Regulation (MDR) may affect the launch timelines of new products.
Asia-Pacific
Asia-Pacific is the fastest-growing region in the peripheral vascular device market. The rapid rise in non-communicable diseases, improving healthcare infrastructure, and increased awareness about vascular health are propelling demand. Countries like China, India, and Japan are seeing exponential growth in interventional radiology and cardiovascular clinics.
Latin America and Middle East & Africa
These regions are emerging as high-potential markets. With rising investments in healthcare infrastructure, particularly in Brazil, Mexico, and the UAE, there is increased demand for advanced diagnostic and therapeutic devices. International collaborations and public-private partnerships are helping bridge gaps in patient access and technology.
𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐓𝐡𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐂𝐨𝐦𝐩𝐫𝐞𝐡𝐞𝐧𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐞𝐫𝐞:
https://www.polarismarketresearch.com/industry-analysis/global-peripheral-vascular-device-market
Key Companies and Strategic Initiatives
The peripheral vascular device market is characterized by both established medical technology giants and innovative startups. Competitive strategies include product launches, acquisitions, partnerships, and R&D investments focused on next-generation technologies.
- Medtronic plc
Medtronic is a global leader in the vascular space, offering a comprehensive range of products for PAD and venous conditions. Its In.Pact Admiral Drug-Coated Balloon and HawkOne Atherectomy System are widely adopted in endovascular procedures.
- Boston Scientific Corporation
Boston Scientific continues to innovate in the drug-eluting stent and embolic protection segment. The company’s peripheral intervention portfolio is geared toward minimally invasive, image-guided therapies.
- Abbott Laboratories
With a strong footprint in vascular devices, Abbott offers solutions like the Supera Peripheral Stent System and the Pantheris Lumivascular Atherectomy System. Abbott is also investing in digital health platforms to integrate data with treatment delivery.
- Terumo Corporation
Headquartered in Japan, Terumo has a robust presence in catheter-based interventions and balloon angioplasty systems. The company is expanding into AI-driven vascular imaging and robotic-assisted devices.
- BD (Becton, Dickinson and Company)
BD’s acquisition of Bard has strengthened its vascular intervention capabilities, especially in IVC filters and biopsy devices. BD is focused on expanding its reach in emerging markets through strategic distribution partnerships.
Other key players include Cook Medical, Cardinal Health, AngioDynamics, Philips Healthcare, and iVascular.
Future Outlook
The peripheral vascular device market is set for transformative change, driven by the convergence of digital health, robotics, and biomaterial innovation. Companies are exploring 3D-printed stents, AI-based diagnostics, and biodegradable scaffolds to improve outcomes and patient satisfaction.
The future landscape will be defined by:
Smart vascular devices with real-time monitoring capabilities
Integration of AI and machine learning in diagnosis and intervention planning
Rise of outpatient-based endovascular procedures
Increased focus on value-based care models and outcome-oriented pricing
As awareness around vascular health continues to rise and more patients seek less invasive options, the peripheral vascular device market is well-positioned for sustained and diversified growth.
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